Author: UnCommons Website
Women in Commercial Real Estate
As a company, we celebrate women every day for the incredible work they do, while also recognizing that the real estate industry has a long way to come when it comes to diversity and representation. For International Women’s Day on March 8, highlight the passionate, dedicated women who make our firm truly Matter.
According to a 2020 Commercial Real Estate Women (CREW) study, more young women are entering the industry and women held 29% of brokerage positions compared to 23% in 2015. Additionally, 32% of women in 2020, 4% more than in 2015, are aspiring to achieve a position in the C-suite. Currently only 9% of C-suite holders in commercial real estate are women.
While these numbers suggest we’re moving in a positive direction, some areas remain stagnant. Women make up 36.7% of the commercial real estate industry, which hasn’t significantly improved since 2005. Additionally, the women who are in the industry make less on average than their male counterparts. In 2020, the fixed salary gap between genders was 10.2%, yet it was 20% in development. Even more disheartening, the commission and bonus gap was 55.9%, the development gap was 65% gap and the brokerage gap was 70% gap.
To better understand the experiences of women in the male-dominated real estate industry we asked the women at Matter about their start in real estate, their mentors and what they would tell women looking to enter the industry. From the emergence of a “girls’ club” in commercial real estate to the diverse backgrounds of each of these women, we’re confident that our industry is steadily improving thanks to their ongoing contributions.
Kristen Holland
What’s your role at Matter?
I am the construction manager for all projects.
When did you first get interested in real estate development?
I was approached by Jim and Kevin to step into this role. I didn’t have much interest before but have come to really love it.
What was your journey to where you are now?
After graduating from Community College of Southern Nevada (CCSN), I went to trade school for sonography, then dabbled in everything from hospitality to marketing for nine years. Six years ago, Jim Colegrove, the special projects and tenant improvements division manager at Burke Special Projects, approached me and while I knew nothing about construction, Jim mentored me and within six months I was assistant project manager. I continued to learn and grow at warp speed then got promoted to project manager. I worked in that position until April of last year when Kevin Burke and Jim Colegrove asked me to learn a new position with my background managing construction for Matter. I was terrified knowing the high expectations these two have, but they’ve helped to see me through it.
Who were/are your mentors?
Jim Colegrove is my greatest mentor. He has constantly challenged me for the past six years and trusts me enough to fail. He has high expectations but also gives me just enough tools to work with. Working alongside him has been the most rewarding and terrifying experience of my life. It is rare to work for someone who truly wants his employees to succeed and is a great support.
What would you tell other women who are interested in careers in real estate development, fields that are heavily male dominated, or companies/industries that have the “boys club” reputation?
I would tell anyone who’s interested to go for it. It is a great industry with infinite opportunities and growth. I have never noticed that it is male dominated nor have I ever felt like my successes or failures had anything to do with my gender. I also have never felt a “boys’ club” vibe. I am always treated with respect and kindness.
What’s the most challenging part?
The only challenging part would be juggling a career and motherhood, but I would have that struggle in any industry.
Kelly Lawson
What’s your role at Matter?
I serve as the director of real estate. My focus is on land — from understanding the market, sites and active players, to business development, acquisitions, site due diligence, zoning and entitlements, title, transaction management (escrow, lender, closing). Additional responsibilities include managing dispositions and sales, facilitating site agreements and recordables and more.
When did you first get interested in real estate development?
I was hired as an office assistant at a real estate sales/brokerage firm by Jim Stuart, one of the current partners at Matter, as a high school senior in 1991. Initially I learned the admin side then moved on to marketing and sales, which eventually led to my role in development.
What was your journey to where you are now?
When I worked as an office assistant, I instantly had a knack for coordinating processes and managing transactions. I passed my real estate license when I was 17 years old so I could expand my skills and provide more value. That evolved into being an assistant for Jim Stuart’s land sales team at what is now Colliers International. By 24, I had been promoted to a salesperson partnership position on the team and spent several years in the land brokerage side. In 2001, I evolved to the development side (also with Jim) where I handled acquisitions, dispositions, due diligence, escrow/title, closings and transaction management. I took a hiatus from 2006-2017 while my kids were young. In 2017, I joined forces again with Jim in what is now Matter as director of real estate.
Who were/are your mentors?
Well, not a big surprise based on the young path I found myself on with this person – but it is Jim Stuart. He has influenced my life for 30 years as first and foremost a dear friend, and as a big brother, mentor and amazing leader. I have always strived to be the best I can be and deliver a level of quality, thoroughness, determination and passion for all I do. His belief in me as always fueled me to do my best and bring a level of compassion and dedication.
What would you tell other women who are interested in careers in real estate development, fields that are heavily male dominated, or companies/industries that have the “boys club” reputation?
Get out there and start! Have the confidence to know you can do anything and be anything you want to be. But put in the time to know your stuff. Be a leader of yourself and a steward of always being prepared and going the extra mile. Don’t be afraid to speak up, contribute and be wrong.
What’s your favorite part about being a woman in this industry?
I absolutely love this industry and the people in it. It is fun to go out there and bring your best game at all times so you can say at the end of the day you did all you can do to contribute and do whatever it is your role serves. There are so many amazing, dynamic and passionate leaders – both men and women.
What’s the most challenging part?
Real estate and development is not and industry for the weak of heart. Deals are hard from finding sites, to making a deal work, all of the entitlement challenges all the way through leasing and selling the asset. There are challenges and curve balls thrown your way ALL THE TIME. You have to lean in and get the answers and solve, solve, solve. And ANTICIPATE…. anticipating what can happen next is a challenge but must be done.
Jenny Butte
What’s your role at Matter?
I am a part of the Capital Markets team and responsible for the financial underwriting for new development opportunities and assist with the overall capitalization of the projects.
When did you first get interested in real estate development?
I had a great professor in undergraduate school that brought awareness to the field and sparked my interest to learn more about the various specialties. This, in turn, spurred me to join the Real Estate Society, which is a student-ran real estate organization on campus that included like-minded individuals with an interest in the industry. This was a great opportunity to learn from experts within the field, get exposure to real life situations and form valuable connections. One of the activities that I’ve always looked forward to was touring new projects with the developer – it was always inspiring to see how passionate they were, seeing the project through their eyes and what they were trying to accomplish for the community.
What was your journey to where you are now?
My path had several twists and turns that came with cuts and bruises and I valued every part of it! From graduating with a finance degree right at the beginning of the Great Financial Crisis, relocating for work, and taking a big leap of faith that was a little outside of the box – I’m very fortunate to be where I am today. I work with a team of superstars that I learn something new from every day and each motivates me to continue to push forward and think creatively.
Who were/are your mentors?
It is hard for me to point to one specific individual. At every stage of my career, I’ve formed relationships with inspiring leaders and peers that have contributed to my growth. For whatever reason, they’ve agreed (whether they knew it at the time) to take me under their wings and share their knowledge and wisdom on how to advance professionally while still valuing personal time. If you’re reading this and wondering if this includes you – chances are, it probably does!
What would you tell other women who are interested in careers in real estate development, fields that are heavily male dominated, or companies/industries that have the “boys’ club” reputation?
Great news is that it’s easy to stick out. Make your voice count by being an expert in your field and making impactful contributions to the team.
What’s your favorite part about being a woman in this industry?
Regardless of your specialty – I find it encouraging that women in this industry naturally try to lift each other up and help contribute to each other’s success. There may be a boys’ club but there’s an unspoken girls’ club that I’m anxious to see grow as more women enter the industry.
What’s the most challenging part?
Something I’m new to and am still learning about is how to manage time with work and motherhood. Happily accepting tips (from men and women) on how to be present and bring my A-Game to both “jobs”
Kelly Otavka
What’s your role at Matter?
My main role at Matter as a real estate paralegal is providing support to our leasing team and helping manage lease negotiations with tenants. I typically step in once we have a signed proposal and work towards getting a signed lease, then set the tenant up in our internal systems and pass the baton off to property management to ensure the tenant has a smooth move-in at the project.
When did you first get interested in real estate development?
Back in 2012 I started working for OliverMcMillan (a developer based in San Diego, CA), where I was introduced to and fell in love with the world of commercial development. Watching the design of large-scale, mixed-use projects come to life was fascinating to me, and from then on I did my best to be exposed to any aspect of the development process that anyone would let me in on. I learned a ton being in an environment that allowed me to sit in on meetings for the sake of learning. Touring projects we were building around the country and getting involved at a high-level introduced me to aspects of the field I was interested in; the leasing and construction processes.
What was your journey to where you are now?
I took my experience from working at OliverMcMillan, mixed with my paralegal background, to The Corky McMillin Companies, where I started off as a legal assistant. I worked closely with the development, leasing, and asset management teams and quickly integrated into each platform. With the company expanding, I was given the choice to further develop my career in any of the three departments I was working with. With the award of a parcel of land in Little Italy, San Diego just waiting to be developed, I decided to take the route of honing my project management skills and building a 99-unit apartment building in the heart of San Diego. Eighteen Ten State Street was a wild ride, and the most incredible learning experience I could have asked for. We had a wonderful project team, and I learned how to turn a hole in the ground into a building occupied by excited residents in one of the city’s most desirable neighborhoods. I’ve never been more proud than I was when we received Temporary Certificate for Occupancy for the project and started moving tenants in. After closing out the job, I was then given the opportunity to manage the sale of the majority of the commercial portfolio owned by The Corky McMillan Companies, giving me transaction management experience that I will forever be grateful for. With my development and legal background, it paved the way wonderfully to where I am today!
Who were/are your mentors?
I cannot sing the praise of previous boss, Joe Haeussler, enough. From day one at The Corky McMillin Companies, we had a great working relationship and he was a great coach/leader on every project we worked on together. To this day he’s always just a call away if I ever need advice, whether that be career or life related. I’ve also been fortunate to cross paths and work with some wonderful women who have never hesitated to help me reach my goals and provide anything from career related support to a sounding board to bounce ideas off. Kymberli Clement of KC Design + Development has been a great resource!
What would you tell other women who are interested in careers in real estate development, fields that are heavily male dominated, or companies/industries that have the “boys club” reputation?
If you dive into your passions and you’re confident in your abilities, you won’t even notice if you’re the only woman in the room.
What’s your favorite part about being a woman in this industry?
Being a woman in this industry tends to allow me to automatically connect with other women in real estate development. Joining the Urban Land Institute and networking with other woman has helped me form a camaraderie in my life I’ve grown fond of. I enjoy being a part of the crew who shows that you really can be involved in an industry you’re interested in if you work hard and keep working towards your goals.
What’s the most challenging part?
There are some days I really need to have thick skin. I’m a bubbly, positive person but that isn’t always a productive demeanor and it’s something I’ve worked to temper in the workplace when necessary.
Savanah Stuart
What’s your role at Matter?
I started out as brand manager at Matter, but as my time and responsibilities have evolved, we changed my title to marketing manager last year.
When did you first get interested in real estate development?
To be honest, I didn’t expect to find myself in this industry. As the daughter of a Matter partner, I was always exposed to commercial real estate, but was not drawn to it.
What was your journey to where you are now?
After sustaining an injury in 2018 that took me away from my previous occupation, I began working for Matter part-time. My hours continued to increase, and I was offered a full-time position in 2019. I would not have thought I would have ended up in commercial real estate (CRE) but I have learned so much in the last two years. I’m incredibly thankful to have the support of our team and be surrounded by individuals who carry a depth of experience that most people are not fortunate enough to be exposed to.
Who were/are your mentors?
This is tough, but my biggest mentor, both in and out of the office, would be my dad, Jim Stuart. Working for a family member has its own levels of complexity and hardships; however, I am so fortunate every day that I get to share this aspect of life with my father. Our relationship has grown into something I would not have imagined. It is a hard balance to keep work and life separate, but I could not have asked for a better person to learn from.
What would you tell other women who are interested in careers in real estate development, fields that are heavily male dominated, or companies/industries that have the “boys’ club” reputation?
I would tell women to go for it. The industry has been slow to become more diverse, but it is well on its way as the younger generations begin to take over majority of positions. Differentiation and work ethic mean more to any company than your gender, but don’t be naïve enough to think gender does not play a role. I would also emphasize doing research and knowing what your male counterparts are earning in the same position.
What’s your favorite part about being a woman in this industry?
I like being able to say that I am a part of this industry. I have found that it surprises a lot of people when I tell them what I do. While marketing is more gender neutral, primarily in Las Vegas, the CRE world is heavily dominated by men. While I don’t think that being a woman in any industry should be some shocking statement, I am proud to be on the forefront of this shift to a more diversified workforce.
What’s the most challenging part?
As a young woman in the industry (borderline Millennial/Gen Z), I feel that I am much more aware of the comments, remarks and looks I get as a young female surrounded by primarily older men. What used to be commonly ignored as older men tried to flirt with young women is much more apparent and frowned upon in my generation. While few of these instances have occurred, and though never within my own office, I’ve seen it firsthand and it is something I am keenly aware of.
Anything else you want to share?
As the youngest member of this team, it was interesting for me to read the responses of my colleagues and to see how we viewed things differently by our generational expectations and experiences. I think there is a resilience in the women who paved the path for women like me, and my hope is that it gets easier for women to work in CRE as representation by women grows. We see this progression in other male-dominated fields, where the ‘fraternity house’ paradigm is forced to shift as more women enter the industry. I think it’s important that we acknowledge the things that make women uncomfortable, so we can continue this progression in a manner that is honest, yet productive.
New shopping centers, entertainment, and restaurants; southwest valley developments expected to be ready in 2022
Mental Health in the Workplace: How we Can Help Ourselves, and Each Other
Mental health awareness is perhaps at an all-time high as we have had to navigate the many life changes we made in response to COVID-19. With this awareness, how it impacts our companies, and how we can all better support ourselves, and each other, I asked my friend, Phil Dixon, to weigh in. The founder and CEO of the Oxford Brain Institute, Phil has more than 30 years of experience in teaching leaders and managers ‘soft skills’ ranging from visioning and strategic planning to one-on-one coaching and conflict resolution. He has worked with some of the world’s largest companies including Apple, Facebook, Google, Twitter, Yahoo! and Stanford Graduate School of Business. We are grateful that he has taken the time to share some insight with us for Perspectives Matter. -Jim Stuart
WHAT IS MENTAL HEALTH?
There is no agreed upon definition as to what we mean by “mental health.” The World Health Organization (WHO) defines it as “a state of well-being in which the individual realizes his or her own abilities, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to his or her community.”
There is an equally useful description of emotional health on FamilyDoctor.org
“Emotional health is an important part of overall health. People who are emotionally healthy are in control of their thoughts, feelings, and behaviors. They are able to cope with life’s challenges. They can keep problems in perspective and bounce back from setbacks. They feel good about themselves and have good relationships.
“Being emotionally healthy does not mean you are happy all the time. It means you are aware of your emotions. You can deal with them, whether they are positive or negative. Emotionally healthy people still feel stress, anger, and sadness. But they know how to manage their negative feelings. They can tell when a problem is more than they can handle on their own. They also know when to seek help from their doctor.
Recent research has shown that good mental health is strongly linked to and integrated with good health in other health dimensions such as physical health and spiritual health. For example, if we look at the following “usual suspects” that enhance physical health, it turns out that they also enhance mental health.
- Physical activity – includes strength, flexibility, and endurance
- Nutrition and diet – includes nutrient intake, fluid intake, and healthy digestion
- Alcohol and drugs – includes the abstinence from or reduced consumption of these substances
- Medical self-care – includes addressing minor ailments or injuries and seeking emergency care as necessary
- Rest and sleep – includes periodic rest and relaxation, along with high quality sleep
In addition, aspects that increase spiritual health also increase mental health.
There is no one-size-fits-all approach in terms of attaining mental health; each of us is different in what we require to keep mentally healthy. Perhaps the most important part is knowing yourself, what makes you tick, what triggers you and what causes you stress, both socially and at work. Once you understand those things, you can tailor your own approach to mental health and stress management.
MENTAL HEALTH, STRESS AND SLEEP
It might also be useful to take a moment to review why it is important to understand mental health and stress management. Let’s just take two aspects: stress and sleep.
First, stress. It’s long been known that chronic stress does bad things to our bodies. More recently, we have discovered that it also does bad things to our brains. Our brains have about 86 billion neurons, each of them connected to tens of thousands of other neurons. Think of it like the Internet in your head.
One way of measuring brain health is to look at the length of those neurons and the number of connections they have with other neurons. Stress impacts three important areas of the brain:
- The pre-frontal cortex is the center of all its executive functions; for example, rational thinking, prioritizing, empathy and self-control
- The hippocampus is the center of memory and learning
- The amygdala is the focus of our response to stress – it’s like a sentry on duty constantly monitoring for threats in our environment
Under chronic stress – typically defined as two weeks or more of continual stress – we can measure that the length of the neurons in the pre-frontal cortex and the hippocampus shrinks and their number of connections is reduced. This means that executive functioning and memory and learning are reduced in their effectiveness. Not something that we really want to have happen to us. On the other hand, under stress the length and the connections of the neurons in the amygdala increase. It’s as if this sentry has taken another ten shots of expresso in order to become even more vigilant. That means we become even more susceptible to stress when we have already been stressed for a long while.
The good news is that, if we take the stress away, the pre-frontal cortex and the hippocampus tend to go back to normal. The bad news is that the amygdala doesn’t. It stays at that increased level of alertness.
So. The bottom line? Find a way of managing your stress before it has its effects.
Now let’s take a brief look at the effect of sleep. Lack of sleep has a direct impact on us, the very next day. Those three parts of the brain that we talked about above are all affected. We tend to be slower at decision making, become more irrational, have less empathy with others, can’t remember as much and are generally more lethargic. Chronic lack of sleep exacerbates all of these issues and more. In addition, there are longer term issues associated with chronic lack of sleep – it appears that there is a greater chance of overall cognitive decline and an increased chance of dementia.
What’s the right amount of sleep? There are two schools of thought. One, is that we all need approximately 8 hours. The other is that it is different for all of us and can range from 4 or 5 to as much as 10. In general, research shows that most of us don’t get enough. And the “I’ll catch up at the weekend” approach still causes damage.
So. The bottom line? Understand your own need for sleep and arrange regular routines so that you get the right amount for you.
It also turns out that, not surprisingly, there’s a mutual impact between stress and sleep. If we are stressed, it is often more difficult to sleep, and if we have had a bad night’s sleep, things stress us more. As luck would have it, there is a way to break out of that cycle. Research shows that if you focus on positivity and maintaining a positive attitude, it is easier to sleep and to manage stress.
PROTECTION, PARTICIPATION AND PREDICTION TO COMBAT THREATS
One last comment about the brain and stress. Our brains are driven by threats. To be more precise, they are driven by threats and rewards. Why that is, is a longer story. Suffice it to say, at this point, that there are a lot of things that cause the brain to perceive threats and what threatens one person’s brain doesn’t necessarily threaten that of another person. At least, not to the same degree. Some people have a high need to work with other people, yet others don’t have the same need. Some people deal with change much more easily than others. Some people are worried about exactly what is going to happen next, and others just let what happens roll over them. We are all different in what makes our brains feel threatened.
For the people who need to work with others, sending them home to work in isolation puts their brain under a major threat. For the people who don’t deal well with change, changing the way that they work puts their brain under major threat. For people who need to know what is going to happen next, dealing with any level of uncertainty, ambiguity or doubt puts their brains under major threat.
Experts have identified nearly fifty dynamics that cause one or more of us to feel threatened. These fifty can be divided into three ‘buckets.’
The first bucket is our need to feel protected. We want to know that we are safe. We want to feel physically safe, emotionally safe and financially safe. We want to be treated fairly. We want to know where we stand.
The second bucket is our need for participation. We are social animals and, to a large degree, we enjoy interaction with other people. We want to know that we are accepted into, and approved by, our group – especially a group of people who are important to us. We want to know that our voice is heard, and our opinions are taken into account. And we want to avoid looking stupid in front of our family, friends and peers.
The third of the buckets is prediction. Our brains want to know what is going to happen next. We want to have some sense of control over our lives. We want to know what is expected of us. We want to know what is going on.
Any given dynamic can cause our brains to respond to perceived threats. Let’s take the example of being sent home to work in self-isolation. To some people that is a direct threat to their brain. They like being around people and feel uneasy when they are not. In addition, it is a change. Once again, to some people that is also a threat to their brain. What about the person whot really needs to know what’s going on, and gets their information from water-cooler talk? Again, their brains are likely to feel very threatened.
So, just the act of having people work from home, can put some people into a heightened threat state.
Now let’s pile on yet more things. Let’s add the concept that there is a virus that has the potential of being a real danger to all of us. Once again, for people with a high need to know what is going on, the uncertainty or not knowing can put their brains into a threat state.
Now let’s add in a resultant economic threat.
If you take all of these threats or potential threats and add them together … well, that’s what’s going on in our brains as we work at home and listen or read about COVID-19.
WHAT CAN WE DO?
We can start by recognizing that our brains are reacting exactly the way they were designed to: to detect danger and respond to it. If we can dig a little deeper and understand what it is that causes us personally to feel threatened, that helps. We are not all the same and what helps one person, might not help another. Understanding the specifics of what threatens you, is another good step to managing your own stress.
When our brains feel threatened, they don’t tend to behave logically. We tend to have more fear and worst-case based responses and less rational ones.
It is quite common for people, especially at this time of the year, to make resolutions to do something different, and very often they are associated with the “usual suspects” that we mentioned earlier. It is also beneficial, however, to take a look at other things that might stretch our brains. To that end I have enclosed a list of activities that have been shown to have a positive impact on our brain.
Phil Dixon
Matter Real Estate’s $400M Las Vegas Project Begins to Rise
Construction Goes Vertical on UnCommons in Southwest Las Vegas
Much-anticipated mixed-use development enters critical next phase as community begins to rise over the upcoming months
LAS VEGAS (Feb. 11, 2021) – Matter Real Estate Group (Matter) has announced UnCommons, located at the corner of Durango Drive and the 215 Beltway in southwest Las Vegas, has begun vertical construction on the first phase of the $400 million development. This important milestone brings the first-of-its-kind mixed-use community one step closer to its opening in early 2022.
Once completed, the innovative, walkable campus will offer a mix of office spaces, residential units, restaurants and cafes, health and fitness studios, and Platform One, Vegas’ first neighborhood food hall. Starting with the groundbreaking of UnCommons in August, Matter has carefully managed construction in following strict health and safety guidelines for its workforce during the pandemic.
“Taking this exciting project vertical demonstrates the incredible progress that has been made on bringing UnCommons to completion,” said Matter Partner Jim Stuart. “This wouldn’t have been possible without the dedication and leadership of Commissioner Naft and the rest of the Clark County team, whose support will help bring this vibrant new epicenter for business to southwest Las Vegas.”
At the onset of the pandemic in early 2020, Matter re-engaged Gensler, the world-renowned architectural firm behind UnCommons, for a redesign integrating health and safety features set by the WELL Building Standard™. The features include near hospital-quality HVAC systems, operable windows and patios, touch-free access, abundant natural daylight, interior finishes made with materials to limit the spread of bacteria and additional sheltered outdoor seating. UnCommons will be the first project in Nevada that will be built to the standards for WELL Certification™, the highest third-party endorsement of a building’s performance and the health of its occupants.
“UnCommons is an important part of Clark County’s economic recovery effort,” said Clark County Commissioner Michael Naft. “It will attract new, corporate businesses that will create good-paying jobs and provide an innovative mixed-use development in the thriving southwest for all to enjoy. I am pleased to continue working with Matter and Gensler on this project and congratulate them and all of the hardworking men and women building UnCommons on today’s milestone.”
UnCommons is also pursuing certification by Green Globes®, a nationally recognized green rating assessment, guidance and certification program. The revolutionary program recognizes sustainability goals for new construction projects, existing buildings and interiors to encourage improved environmental and health performance while reducing environmental impacts.
The celebrated mixed-use community recently achieved the Registered Green Globes Merit Award and Registered WELL Merit Award from the San Diego Green Building Council (SDGBC), which recognizes outstanding sustainable design in the 2020 SDGBC Sustainability Awards.
The mixed-use community has captured the attention of CBRE, the global leader in commercial real estate, which will be moving its Las Vegas headquarters to UnCommons. Attracted to UnCommons’ commitment to the health and safety of residents and employees, the Fortune 500 and S&P 500 company will occupy nearly 20,000 square feet encompassing an entire floor of one of UnCommons’ five office buildings.
The stylized urban campus will be comprised of 500,000+ square feet of modern office space with market-leading design and technology, 830+ residential units, an entertainment venue, trendsetting restaurants and cafes that follow the good food movement, health and fitness studios, a multi-purpose conference center, a pedestrian trail and public art. Platform One, a food hall showcasing the best of the local food scene, will introduce an innovative touchless food pickup mechanism for carry-out or delivery, as well as infrastructure to integrate health and safety.
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About UnCommons
UnCommons, a first-of-its kind mixed-use development in southwest Las Vegas, is now under construction with the opening of the first phase planned for early 2022. The $400 million project is designed to fulfill the modern workforce’s desire for a workplace that enhances their lives through rich amenities, open space and connectivity. The stylized urban campus will be comprised of more than 500,000 square feet of modern office space with market-leading design and technology, more than 830 residential units, an entertainment venue, trendsetting restaurants and cafes that follow the good food movement, health and fitness studios, a multi-purpose conference center, a pedestrian trail, public art and Platform One, a food hall showcasing the best of the local food scene. The development will be the first of its kind in Nevada to be built by the standards for WELL™ Certification, which are the highest third-party endorsement of a building’s performance and protection of employee health. UnCommons is also pursuing certification by Green Globes®, a nationally recognized green rating assessment, guidance and certification program. More information is available on the website at www.UnCommons.com, on Facebook at @UnCommonsLasVegas, Instagram at @UnCommons.LV and Twitter at @UnCommonsLV and LinkedIn at UnCommons.
About Matter Real Estate Group
Matter Real Estate Group is a real estate development company created to elevate the everyday human experience, enabling people, businesses and communities to thrive. The company is led by three partners, Jim Stuart, Matt Root and Kevin Burke, each with more than 20+ years of experience in the development of place making projects combining design, construction and operating strategy all under one roof. The team behind Matter strongly believes that development can be a curated experience designed around business needs while at the same time focusing on flexibility, purpose and inclusiveness. Headquartered in San Diego, Matter focuses on developing within the Western U.S. with projects in planning or under construction in major cities including Austin, Las Vegas, Los Angeles and Phoenix. More information is available on the website at www.MatterRealEstate.com, on Facebook at @MatterRealEstateGroup, Instagram at @MatterRealEstateGroup and LinkedIn at Matter Real Estate Group.
Media Contacts:
Stephanie Wilson/Lauren Painter, UnCommons@WickedCreative.com, 702.868.4545
Construction goes vertical on UnCommons development in southwest Las Vegas
$400M UnCommons complex starts to rise in southwest Las Vegas
How Your Sales Force May Change, Post Pandemic
Tom van Betten joined Matter Real Estate Group to pursue his passion for commercial real estate after 20 years of leading his own brokerage practice. As Vice President of Strategic Partnerships, Tom brings partners, brokers and tenants together, relying on decades of multi-faceted experience to cover every corner of the business. Through every transaction, Tom creates strategies that benefit everyone involved. A former top-performing broker, he has honed his skills guiding some of North America’s leading companies into new facilities.
Ever since the character Blake in Glengarry Glen Ross famously exclaimed, “Put the coffee down, coffee is for closers,” I have been intrigued by the intensity of the “sales floor.” As I entered the commercial real estate business right out of college, I was given a phone and a list of names to try and schedule meetings. I remember fumbling over my cold calls, trying to stay focused in a noisy room with paper notes everywhere.
Office environments have evolved over the years, but COVID-19 will change the approach to sales forever. The pandemic will have widespread implications on your sales force, these are the ways I see it impacting on both the process and the office spaces that sales forces utilize.
Selling During COVID-19
When COVID-19 hit, many sales programs had to quickly implement or even develop a crisis strategy. Of course, the firms that had robust digital infrastructure were steps ahead, and the real winners were the ones that could show clients a path to profitability (yes, profitability), not just cost savings. An example would be cross-leveraging a digital branding opportunity at a low cost for a client because the sales team connected the dots. Creativity has never been as important as a tool in your sales chest as it is now.
Traditional tactics such as events, trade shows and expos are not available now, and likely will not be for the foreseeable future. Even taking a client out for a good steak is not as easy or safe right now, as different clients have varied levels of comfort about meeting in person. How can salespeople connect with their client or prospect in any kind of meaningful way? We have found that the move from in person to digital not only can work, but can be the rare opportunity for a “one-to-many” presentation. Webinars and other online presentations can be efficient and interesting; however, this cannot be an infomercial or nobody will show up. This is thought leadership. This is not regurgitating the same information you’ve heard or presented again and again. This is putting some effort into aggregating some people or content that can be of value to a customer, even if no direct sale is made. This is relationship building in a bubble. Add value now and you will be remembered.
Selling After COVID-19
Technology! I know this is the de facto answer to everything, but COVID-19 has magnified its importance. While waiting for vaccinations to happen across the world, this is the perfect time to revamp your Customer Relationship Management (CRM) software and get 100% buy-in from peers and leadership before everybody is too busy again. Now is the time to stop relying on outdated legacy technology and move into the future with confidence.
That same technology should help you sell online in an attractive and efficient manner. Efficiency is going to be a key factor of success going forward, as we all realized working from home. A sales team can’t burn up minutes and hours chasing people and documents around. I was recently contacted by three salespeople from the same national data provider. I was thinking how frustrating it must be to not even share a database in today’s world! Have the difficult “territory” conversation now and set up equitable battle stations for salespeople to fairly focus on clients and beat the competition.
It’s time to give the desktop computer to Goodwill and gear up the team with a laptop and quality webcam. This will allow mobilized sales forces to meet online and collaborate when not in the office.
Business travel will come back. There is no substitution for a face-to-face meeting to build trust and complete a business transaction. However, the travel costs will require that trip to be the “silver bullet” or the one chance to win or save the business. How can that one trip in the future be that much more fruitful? Better presentations, images, flowcharts, metrics, case studies, etc. What else can you do while you are there? Use this time now to prepare for Fall 2021, when all signs are that sales will be “game on!”
Offices will also come back. As we anticipated, our study from earlier this year showed that people miss going to the office. Several more recent surveys show over 70% of people want to return to the office at some level. People miss collaboration and human interaction. Experts believe that many offices may choose to change the days of a week required to be in the offices, but there will not be any change in the space needed for offices. The dedensification to create physical distancing will be offset by a more mobile workforce. Sales teams will need creative ways to communicate with their prospects, as sales call “drop ins” may not be available and, even if you are allowed in, you may miss the key contact.
Successful sales forces have always been on the cutting edge of trends – be it technology, psychology and more – and this year will be no different. We have the opportunity to redefine what sales and sales roles look like and should be excited about what’s ahead in the next 6-9 months.
Tom van Betten is vice president of strategic relationships at Matter Real Estate Group, the developer behind www.uncommons.com.
Getting Back to the Office: 10 Things to Look Forward to in 2021
1. People:
Yes, people! Oh happy hours, lunches and office brainstorming sessions with our colleagues, how we’ve missed you. There’s nothing quite like having a white board up on a wall for all to see and collectively gather the latest and greatest ideas. Or wandering into a colleague’s office to go over plans and reports. We miss human contact and particularly in-person collaboration, so ‘people’ are at the top of our list of things we are most looking forward to.
2. The New 9-5:
Whether we have enjoyed it or not, we learned in 2020 (it’s hard now, even to type these numbers) that many of us CAN work from home. We can be accountable, we can keep a normal schedule and we can save time on our commutes. With this insight, we believe employers will have greater flexibility moving forward in how to approach the workweek. It might be “work from home Fridays” or a staggered schedule to allow a mix of work at the office and at home. It might be a policy that allows parents to pick up their kids from school and finish their work from home, or it might mean taking a break from a bustling workplace to work from home, or vice versa, to better focus on projects that require more concentration,
3. Mental Health is Now Top of Mind:
Isolation, job insecurity, and too much time around your spouse and family are all factors that have led to mental health crises for many. Prior to this past year (let’s not mention the year by name, again), mental health was dealt with privately. Sure, mental health may be covered by your company’s health plan, but you weren’t actually speaking to your boss or employees about it. This past year, we’ve found that people have been much more inclined to talk about their mental health and even communicate their need to seek help with their employer. We believe this openness will continue to be normalized as we go into the new year and, let’s face it, nothing ever gets resolved when you sweep it under the rug. We are also seeing a greater degree of access to mental health professionals with online therapy services like Talkspace, which now accepts payment from many insurance providers.
4. Extra Family Time:
While we have found that trying to be a teacher to your six-year-old while still managing a busy workload leads to an incredible amount of stress (see #3, ahem), we have found that we like the extra time with our spouses, kids and lovable pets. We are more aware that time is short and that we don’t really want our jobs to keep us from school plays or baseball games. We now recognize that we can be more flexible with our work week and that can allow for leaving work early to be there for our family, plus we now know that we have the tools to finish off the workday at home later in the evening.
5. Less Travel:
For many of us, video meetings were rare pre-COVID. We may have even found them to be a bit hokey. Meetings on Zoom and Microsoft Teams are now a part of the day-to-day workplace, and we have found that in many instances, they CAN replace face-to-face contact. While business travel will not be dead, it will certainly be less frequent. Plus, while there’s nothing quite like meeting in person for collaboration, we believe that video meetings will remain popular in a post-COVID workplace and will alleviate travel demands for a lot of people. That’s good news for many of us who have described our jobs as “living on a plane.”
6. Vaccinations:
Much of our return to the office will hinge on vaccinations – who has been vaccinated, and who hasn’t. There will even be events, conventions, and other activities that will require vaccinations. Your employer may even require that you be vaccinated before you return to the office. Skeptical about vaccinations? We think employers will continue to offer video meetings and work from home options for those who want to wait… at least, for now. With that, we will see a need for employers and employment law to help us navigate solutions for employees who don’t want to be vaccinated in 2021, and likely beyond this upcoming year.
7. Expansion of Wellness Programs:
The stressors of this past year have been through the roof. In addition to encouraging employees to seek support through therapists, group counseling, etc., employers will be encouraging employees to take care of their wellness while at the office. Ways to implement such programs might include a time set, daily, for afternoon walks – knowing that sunlight, exercise and fresh air are key to help fight depression; as well as the development of onsite physical fitness classes and gyms as well as other activities, like running, while at the office.
8. A New Office:
While we are all thrilled to have vaccines rolling out, we are also keenly aware that we want to work in office spaces that limit the spread of bacteria and provide personal spaces. At the same time, we want to feel inspired, plus we want our teams to feel inspired. Expect to see better HVAC systems, operable windows and hand sanitizers in public spaces, plus new policies in common areas like kitchens and conference rooms. There will be a reconfiguration of the bullpen as we touched on in an earlier blog, plus new furniture layouts that support activity-based work where you can find quiet areas to focus. Areas for collaboration will provide a more kinetic environment. Many older offices will be forced to remodel to support the vitality the modern workforce craves away from home.
9. Healthcare:
Healthcare has been a major issue for employers and employees since the Affordable Care Act. COVID-19 will have lasting implications on companies and the types of healthcare plans available to employees. Companies know that the price of healthcare is high, but not as high as the price of unhealthy employees. We expect to see greater attention to the types of healthcare available to employees, as well as programs that are focused on prevention.
10. Elevated Customer Service:
One of our New Year’s resolutions is to do more to show our customers and clients how much we appreciate them. Without their business, this past year would not have been possible. While communicating through masks and limits on in-person contact have kept us physically separated, we have been reminded to not take our customers and clients for granted. We are reminded of all those lessons our parents taught us – to treat others as we want to be treated and to always say please and thank you. We are reminded that we are all human beings.